Glomac Q4 revenue rises 78% to RM131mil

PETALING JAYA: Glomac Bhd expects its financial year 2024 (FY24) to be another challenging year amidst growing concerns on inflation, labour shortage, rising interest rates and material costs that are expected to affect the property sector.

For the fourth quarter ended April 30, 2023 (4Q23), the property developer and management company saw its revenue increasing 78% year-on-year (y-o-y) to RM131.1mil, underpinned by higher revenue from its property development and property investment segments.